The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Sternlicht: Lordstown Motors committed fraud and lied about vehicle orders
“They front run the trade. They lied about their orders. They made up the car. It was a fraud. The model they showed the street was not active.”
Sternlicht: Marriott lobbied Washington to outlaw Starwood's paired-share REIT structure
“Bill Marriott had been at this for
40 years, and I've been at it for three.
He decided that this enough is enough, and they're gonna get rid of our paired share structure.
So he went to Washington, and in the budget reconciliation bill of that year, they threw…”
Sternlicht: Amazon subsidizes $4B-$5B retail losses with AWS to destroy small retailers
“It's fundamentally destroying mom and dad retail across the country, and it's one of my pet peeves because they were allowed to sell product retail-wise for less than the cost of, they're losing four or five billion a year in retail, which they subsidize with …”
Sternlicht: Desperate SPAC sponsors will cut promotes by 25% to 75%
“The outcome of this will be as the two year anniversary of those SPACs births comes around, they would get desperate and they will start cutting their promotes 25, 50, 75%, just so they don't lose the sponsor equity capital they put up. So it's going to be a b…”
Sternlicht: Starwood acquired 8,000 apartments and tripled investor money in 18 months
“We bought 8000 apartments in 18 months and I sold them all to Sam Zell and we tripled their money in 18 months.”
Sternlicht: San Francisco is the worst US office market with 30% vacancy or sublease
“And so the worst office market in the United States is San Francisco, where 30% of the space is vacant or trying to be subleased, which is staggering.”